VAALCO Energy (NYSE:EGY) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of VAALCO Energy (NYSE:EGY) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

VAALCO Energy Stock Performance

Shares of NYSE EGY opened at $4.11 on Tuesday. The company has a market capitalization of $431.41 million, a PE ratio of 4.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.34. The company’s fifty day moving average price is $4.33 and its 200 day moving average price is $5.20. VAALCO Energy has a 1 year low of $3.96 and a 1 year high of $7.51.

VAALCO Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date is Friday, February 28th. VAALCO Energy’s dividend payout ratio (DPR) is presently 29.41%.

Hedge Funds Weigh In On VAALCO Energy

A number of large investors have recently bought and sold shares of EGY. State Street Corp grew its holdings in VAALCO Energy by 4.3% in the third quarter. State Street Corp now owns 4,285,378 shares of the energy company’s stock valued at $24,598,000 after purchasing an additional 176,259 shares during the period. American Century Companies Inc. lifted its position in shares of VAALCO Energy by 8.7% during the 4th quarter. American Century Companies Inc. now owns 3,901,984 shares of the energy company’s stock valued at $17,052,000 after buying an additional 312,576 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in VAALCO Energy by 9.7% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 2,786,265 shares of the energy company’s stock valued at $12,176,000 after acquiring an additional 247,310 shares during the period. Geode Capital Management LLC grew its stake in VAALCO Energy by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,510,060 shares of the energy company’s stock valued at $10,972,000 after acquiring an additional 16,473 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in VAALCO Energy by 51.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,468,093 shares of the energy company’s stock worth $10,784,000 after acquiring an additional 834,398 shares in the last quarter. Institutional investors and hedge funds own 50.32% of the company’s stock.

About VAALCO Energy

VAALCO Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame production sharing contract related to the Etame Marin block covering an area of approximately 46,200 gross acres located offshore in the Republic of Gabon in West Africa.